Sei Investments Co. Reduces Stock Position in Vericel Co. (NASDAQ:VCEL)

Sei Investments Co. cut its stake in shares of Vericel Co. (NASDAQ:VCEL) by 8.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 59,945 shares of the biotechnology company’s stock after selling 5,320 shares during the period. Sei Investments Co. owned about 0.12% of Vericel worth $3,291,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of VCEL. Wellington Management Group LLP lifted its stake in shares of Vericel by 214.0% in the 3rd quarter. Wellington Management Group LLP now owns 587,857 shares of the biotechnology company’s stock worth $24,837,000 after purchasing an additional 400,667 shares during the period. Stifel Financial Corp increased its stake in shares of Vericel by 40.0% in the 3rd quarter. Stifel Financial Corp now owns 28,073 shares of the biotechnology company’s stock worth $1,186,000 after purchasing an additional 8,020 shares in the last quarter. Geode Capital Management LLC raised its holdings in Vericel by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,154,053 shares of the biotechnology company’s stock worth $48,768,000 after purchasing an additional 9,613 shares during the period. Louisiana State Employees Retirement System lifted its position in Vericel by 0.8% during the fourth quarter. Louisiana State Employees Retirement System now owns 23,900 shares of the biotechnology company’s stock valued at $1,312,000 after purchasing an additional 200 shares in the last quarter. Finally, Park Avenue Securities LLC bought a new position in shares of Vericel in the fourth quarter worth about $280,000.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Stephens reaffirmed an “overweight” rating and set a $65.00 price target on shares of Vericel in a report on Wednesday, January 15th. StockNews.com upgraded Vericel from a “sell” rating to a “hold” rating in a research report on Saturday, March 8th. Canaccord Genuity Group boosted their target price on shares of Vericel from $64.00 to $67.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. HC Wainwright reaffirmed a “buy” rating and set a $60.00 target price on shares of Vericel in a research note on Friday, February 28th. Finally, Truist Financial reiterated a “buy” rating and issued a $61.00 price target (down previously from $67.00) on shares of Vericel in a research note on Monday, March 3rd. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Vericel presently has an average rating of “Moderate Buy” and an average target price of $62.29.

Vericel Stock Down 1.9 %

Shares of NASDAQ:VCEL opened at $43.49 on Friday. The business’s 50 day moving average is $52.05 and its 200 day moving average is $51.66. The stock has a market cap of $2.18 billion, a P/E ratio of 724.95 and a beta of 1.78. Vericel Co. has a 52-week low of $39.12 and a 52-week high of $63.00.

Insider Activity

In related news, Director Robert L. Md Zerbe sold 2,500 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $62.50, for a total transaction of $156,250.00. Following the completion of the sale, the director now directly owns 26,595 shares in the company, valued at $1,662,187.50. This represents a 8.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jonathan Siegal sold 3,908 shares of Vericel stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $61.99, for a total transaction of $242,256.92. Following the completion of the transaction, the insider now directly owns 1,206 shares in the company, valued at approximately $74,759.94. The trade was a 76.42 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,092 shares of company stock worth $1,683,582. Company insiders own 5.20% of the company’s stock.

Vericel Company Profile

Vericel Corporation, a commercial-stage biopharmaceutical company, engages in the research, development, manufacture, and distribution of cellular therapies for sports medicine and severe burn care markets in North America. The company markets autologous cell therapy products comprising MACI, an autologous cultured chondrocytes on porcine collagen membrane for the repair of symptomatic, and single or multiple full-thickness cartilage defects of the knee; Epicel, a permanent skin replacement humanitarian use device for the treatment of adult and pediatric patients with deep-dermal or full-thickness burns; and NexoBrid, a biological orphan product for eschar removal in adults with deep partial-thickness and/or full-thickness thermal burns.